Hey, have you heard? The stock market is absolutely soaring right
now. The Dow was up 330 points on Monday, and overall the Dow has risen
by more than 10 percent since October 3rd. So should we all be
throwing our money into the stock market in order to take advantage of
this tremendous rally? Well, if you actually believe that the sovereign
debt crisis has passed and that we are no longer on the verge of a
massive worldwide financial crisis then I have a bridge that I would
like to sell you. The stock market may be soaring, but absolutely
nothing has been solved. The truth is that this stock market rally is
for suckers. The primary reason why stocks rose today was because
German Chancellor Angela Merkel and French President Nicolas Sarkozy
promised that they would reveal a "comprehensive response" to the European debt crisis by the end of this month. When pressed for specifics, Sarkozy stated that "now is not the moment to go into the details." So do global financial markets really have a legitimate reason to be
giddy about the super secret plan cooked up by Angela Merkel and Nicolas
Sarkozy, or are Merkel and Sarkozy just blowing a bunch of smoke?

Merkel and Sarkozy have made bold promises in the past, but nothing ever got fixed.